May 23, 2014 - It is getting harder to hide money from Uncle Sam offshore
The department stands to gather even more account information from the ongoing investigations into 13 other European banks, including HSBC and Julius Baer.
May 23, 2014 - Supreme Court breather for HSBC Geneva account holders
Swiss bank account holders who have been quietly celebrating the exit of P Chidambaram now have another reason to rejoice. Almost three-fourths of the 600 or so named in the list of clients of HSBC Geneva are beneficiaries of " discretionary trusts".
May 22, 2014 - Remaining ‘hit list’ banks sweat over US verdicts
But Lawrence feels that Credit Suisse could be the last such symbolic case. “I believe that the US has bagged its elephant,” he told swissinfo.ch.
May 20, 2014 - Swiss Expect Julius Baer, Basler, ZKB to Strike U.S. Deals Soon
Julius Baer Group Ltd. (BAER), Basler Kantonalbank and Zuercher Kantonalbank are among so-called group 1 Swiss financial firms, investigated by the Department of Justice since 2011 for allegedly helping Americans hide money from the Internal Revenue Service, that are seeking to strike individual agreements to avoid or defer prosecution by the U.S.
May 16, 2014 - Credit Suisse Said Close to $2.5 Billion Deal in Tax Probe
Banks including Credit Suisse, UBS AG, HSBC Holdings Plc and JPMorgan Chase & Co. avoided convictions through settlements in recent years.
March 11, 2014 - Dozens of brokers flee HSBC for Chinese investment banks in Hong Kong
People familiar with the situation told the South China Morning Post about 50 former employees of HSBC’s Asian securities unit in the bank’s office in the city had signed new offers with BOC International (BOCI), the Hong Kong-based offshore investment banking arm of Bank of China, one of the Big Four state-run lenders headquartered in Beijing.
February 24, 2014 - HSBC’s Private-Banking Profit Slumps 81% Amid Swiss Outflows
HSBC Holdings Plc (HSBA), Europe’s largest lender, said full-year earnings at its private bank dropped 81 percent as customers pulled money from its Swiss cross-border business and the firm made provisions for regulatory probes.
January 27, 2014 - U.S. says has 106 Swiss requests to join anti-tax-dodging deal
The U.S. Justice Department has received 106 requests from Swiss entities to participate in a U.S. settlement program aimed at ending a long-running probe of tax-dodging by Americans using Swiss bank accounts, a senior U.S. government official said on Saturday.
January 27, 2014 - Swiss banks closer to deals in tax-evasion probe
More than 100 Swiss banks and other institutions have signaled they will seek non-prosecution agreements and provide information to U.S. authorities investigating suspected off-shore tax evasion by Americans, a top Department of Justice official said Saturday.
January 23, 2014 - China ‘leading source of new offshore clients’‚ journo investigation reveals
Relatives of China’s top political leaders‚ past and present‚ are among nearly 22‚000 people in China and Hong Kong whose offshore holdings have been revealed in a leaked cache of documents unveiled yesterday.
January 23, 2014 - City may lose out on billions because of offshore companies: experts
The widespread practice of registering companies overseas by Hong Kong's richest, most powerful people raises questions about their corporate governance, transparency and the possibility that the city may be losing out on billions in city tax revenues, according to experts on corporate finance.
January 22, 2014 - China is biggest exporter of illicit capital, says watchdog group
On Wednesday, a group of investigative journalists released the initial results of an investigation into some 20,000 offshore bank accounts by people with addresses in Hong Kong and the mainland.
January 9, 2014 - Swiss Court Blocks Julius Baer Client Data Transfer to U.S.
The Swiss Federal Tax Administration “unlawfully granted the request for administrative assistance” submitted by the IRS on April 17, concerning the disclosure of bank-account data of clients of Julius Baer, the Federal Administrative Court in St. Gallen said today in an e-mailed statement.
December 30, 2013 - Swiss Banks Pressure U.S. Clients
Swiss banks are pressuring current and former U.S. account holders to disclose undeclared assets to the Internal Revenue Service, experts say.
December 24, 2013 - TLPA Consulting On Swiss Bank Disclosure Program
Teig Lawrence is available to consult with Swiss Banks of all sizes with respect to satisfying the compliance requirements of this Swiss Bank Voluntary Disclosure Program.